15 Cent SWM share price = 3 times current earnings - Momentum is beginning!, page-53

‘You’re looking for a mispriced gamble. That’s what investing is. And you have to know enough to know whether the gamble is mispriced. That’s value investing.’’ Charlie Munger

@Sparktastic Right now SWM is trading at less than 1.5x mid cycle earnings of $155m NPAT (or 3x current earnings) and instead of saying that the markets pessimism towards SWM is overdone and this represents a strong buying opportunity, you have put forward your investment thesis that this is the time to sell SWM shares.

It seems obvious to me that your investment thesis which deliberately ignores the most profitable and strongest growing digital division of SWM (7plus) demonstrates that you don’t know enough to know that purchasing SWM at 15 cents a share is a massively mispriced gamble.

If you want to be bearish about SWM at 15 cents a share then please go right ahead- It's foolish and plain stupid but the problem is you won’t realise this fact until later this year by which time the Total Tv ad market will have turned the corner and SWM will have already delivered multi-bagger gains from this extremely low share price.

For anyone else who can understand that SWM is currently a mispriced gamble my message is simple buy and be patient. Understand that these things operate in cycles (hence the name ‘cyclicals’) and when the professional investors like Spheria Asset Management and Collins Street Asset Management are buying at the bottom of the cycle this represents an opportunity to do the same and profit massively during the cyclical upswing.